TRX Gold (NYSE:TRX) Price Target Raised to $1.40 at HC Wainwright

TRX Gold (NYSE:TRX) had its price objective boosted by HC Wainwright from $1.30 to $1.40 in a report released on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, StockNews.com initiated coverage on TRX Gold in a research note on Tuesday, April 9th. They issued a hold rating on the stock.

TRX Gold Trading Up 2.2 %

Shares of NYSE:TRX opened at $0.47 on Tuesday. The firm has a 50 day moving average of $0.39 and a 200-day moving average of $0.38. TRX Gold has a 12 month low of $0.31 and a 12 month high of $0.60. The stock has a market capitalization of $131.09 million, a PE ratio of 47.00 and a beta of 0.65.

TRX Gold (NYSE:TRX) last announced its quarterly earnings data on Friday, April 12th. The company reported $0.01 earnings per share (EPS) for the quarter. TRX Gold had a net margin of 0.70% and a negative return on equity of 1.66%. The business had revenue of $7.98 million for the quarter, compared to analysts’ expectations of $9.40 million. On average, research analysts predict that TRX Gold will post 0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On TRX Gold

Several hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC grew its holdings in TRX Gold by 51.9% during the 2nd quarter. Renaissance Technologies LLC now owns 995,158 shares of the company’s stock worth $441,000 after acquiring an additional 339,930 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of TRX Gold by 12.8% during the fourth quarter. HighTower Advisors LLC now owns 297,190 shares of the company’s stock worth $99,000 after purchasing an additional 33,690 shares during the period. Millennium Management LLC grew its stake in shares of TRX Gold by 493.1% in the fourth quarter. Millennium Management LLC now owns 254,416 shares of the company’s stock worth $86,000 after purchasing an additional 211,523 shares during the last quarter. Morgan Stanley increased its holdings in TRX Gold by 19.7% in the fourth quarter. Morgan Stanley now owns 179,454 shares of the company’s stock valued at $61,000 after purchasing an additional 29,575 shares during the period. Finally, Virtu Financial LLC bought a new position in TRX Gold during the 1st quarter worth $45,000. Institutional investors and hedge funds own 1.06% of the company’s stock.

About TRX Gold

TRX Gold Corporation engages in the exploration, development, and production of mineral property interests in the United Republic of Tanzania. The company primarily explores for gold deposits. It holds interests in the Buckreef gold project that comprises a single Special Mining License covering an area of 16.04 square kilometers and 12 Prospecting Licenses covering 98.19 square kilometers located in north-central Tanzania.